Return to Transcripts main page

CNN 10

Hurricane Michael set to hit Florida Panhandle; Stock Market; The Betty Kwan Chinn Homeless Foundation; Astronaut Records Music Video from International Space Station

Aired October 9, 2018 - 4:00:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CARL AZUZ, CNN 10 ANCHOR: Hello and welcome to CNN 10. My name is Carl Azuz but it`s the name Michael that`s making headlines today. It`s a storm

that formed in the Caribbean Sea on Sunday. Blast western Cuba as a Category 1 hurricane on Monday and is expected to hit the U.S. Gulf Coast

on Wednesday. This thing is moving quickly. It was entering the Gulf of Mexico as we produced this show. And while Michael`s projected landfall in

the U.S. is anywhere from Mobile, Alabama to northwestern Florida, the National Hurricane Center says wherever it strikes life threatening storm

surge is possible.

Well built homes could suffer major damage. Roads could be dropped with fallen trees and electricity and water may be unavailable for days or weeks

in effected areas. States of emergency have been declared in Alabama and for dozens of Florida`s counties. That makes it easier and faster to get

help to people who need it. Florida`s governor activated 500 National Guard troops to help with recovery. Mandatory evacuations have been

ordered for some coastal areas and college campus` have been closed from Tuesday through Friday.

If this storm strengthens as it`s expected to and if it charges northeast across northern Florida and southern Georgia, forecasters say it could

cause additional problems for the parts of North and South Carolina that are trying to recover from Hurricane Florence. People to working to clean

up after that storm`s flooding last month could see more rain. For now though, one of the biggest questions surrounding Hurricane Michael is how

powerful it`s going to get.

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: While this could make landfall as a major storm, it has intensified very quickly and now that it`s going to enter the Gulf of

Mexico it is going to intensify even more. It`s entering very ripe conditions favorable for more intensification possibly a Category 2 and

then making landfall as a possible Category 3. A major storm and look at this track possibly across the Carolinas once again. Of course the model

comparison, they`re in pretty good agreement but there`s one scenario this red line, the GFS.

That would be a worst case scenario because with this scenario you`re impacting more populated areas and you`re getting the messy side of the

storm across the Carolinas which could bring a lot of rain. Now this is going to be very different from Florence because this one is moving very,

very quickly but still major concern when you have a Category 3 making landfall across the panhandle.

(END VIDEO CLIP)

CARL AZUZ: 10 Second Trivia. Where are you most likely to hear the terms arbitrage, gidney order (ph) and put option? Would they be used in Brexit

negotiations, the Pan-African Parliament, the Stock Market or a cricket match? Since all of these are stock market terms that`s where you`ll be

most likely to hear them.

Bulls and Bears are also Stock Market symbols. Bull markets occur when investors are optimistic, buying increases and stock prices rise. Bear

markets are when investors are pessimistic, selling increases and stock prices fall. According to Investigpedia, it`s believed that Bull and Bear

markets got their names from the way these animals attack. Bulls push their horns upward. Bears swipe their claws downward. That`s one theory

anyway. One thing we know for sure is that the U.S. Stock Market has been incredibly bullish. Investors don`t know when this will end but some are

putting their guard up in case a bear shows up.

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: Think of the Stock Market as a thermometer for the economy. But it`s really a measure of how well companies are doing and at

the moment, they`re killing it. Earnings in the first half of the year grew at the strongest pace in almost a decade. Those results are powering

this Bull market, now the longest in history. It turned 3,453 days old in August and has touched new highs since then. There`s an old saying on Wall

Street, Bull markets don`t die of old age. So what does kill a Bull market? Well a recession for starters. When the economy declines, so do

corporate profits and when the bottom line shrinks, stock prices usually follow.

So is a recession coming? Well the last one was in 2008, and some economists think America is overdue for another one. That`s why economists

are watching something called the Yield Curve so closely. It`s the spread between short and long term Treasury rates and it`s flattening. If the

Yield Curve inverts, that means short term rates are higher than long term rates, that`s a warning sign. History tells us once the Yield Curve

inverts, a U.S. recession is likely. Which brings me to another Bull market killer, misplaying interest rates. The Federal Reserve has been

raising rates since late 2015. Some economists fear if the Fed gets to aggressive, that could kill the Bull.

Then there`s the Black Swan. It`s the event you can`t plan for, the shock that sends stocks plummeting like a - - a terror attack or the collapse of

Lehman Brothers. An unpredictable crisis that can deliver a lethal blow to the Bull. You know what else they say in Wall Street? The Bull market`s

end with a whimper or a bang. We just don`t know which one yet.

(END VIDEO CLIP)

CARL AZUZ: As a child in China in the 1960`s, Betty Kwan Chinn says her family was persecuted because her parents had religion and education. As

an adult in northwest California today, the Betty Kwan Chinn Homeless Foundation operates on faith, hope, love and charity to help hundreds of

people who endure some of the hardships Chinn faced. She`s a CNN Hero.

(BEGIN VIDEO CLIP)

BETTY KWAN CHINN, FOUNDER OF BETTY KWAN CHINN HOMELESS FOUNDATION: In China, my family was a target for the government. I separated with my

family and I live on the street by myself. I had to wear a sign on my neck saying I`m a child of the devil. This all happened at a very young age. I

had nothing to eat. Inside my heart, I don`t want anybody to suffer what I suffered. I do sleep a lot. I can`t (inaudible) not to 08, not to 06. I

tell myself time to go. Somebody need your help.

Homelessness is serious anywhere but in (inaudible) there`s more power. Every day I go to 11 locations. Look at all these people.

Hello, how are you doing?

UNIDENTIFIED MALE: Good.

CHINN: Hey you.

And then feed them.

UNIDENTIFIED MALE: Thank you.

CHINN: And then ask them what they need. How I can help them.

I haven`t seen you in a while. So what are you doing now?

No money. No job. They can come to us. We support and change their life.

You look good. OK. Tuesday, come to see me.

This is a (inaudible) shelter. They can stay here from six months to nine months for free. Live here for free. In that time, they have saved to

rent a house or rent an apartment. (inaudible) is my priority. When you want to end homelessness, I have to (inaudible) kid.

How is school by the way?

Good.

Everyday after 3 o`clock we have kid come to us. So we have finish the homework and played a game. Learned a manner. We call this (inaudible).

The (inaudible) is built by superintendent. Each one is 10`x10`, very basic. (inaudible) shelter. I provide breakfast, lunch and dinner for

them. I have mobile medical come in.

UNIDENTIFIED FEMALE: Being on the streets, you can`t get a job if you don`t have an I.D. or a Social Security Card so she helps you get a new

one. Since I came here I got a job and everything changed from there.

UNIDENTIFIED FEMALE: She really believes in every person. We can truly see it.

UNIDENTIFIED MALE: People just caught on to her lovability. Her friendship, she stuck to her word. She`s still here and still doing the

job.

UNIDENTIFIED FEMALE: She actually is able to provide more service than we are as the county. Betty fills the gap.

CHINN: Some people, they don`t like me because they just think I created homeless (inaudible). They yell at me, scream at me. They spit at me.

They just say, go back to where you come from. You take your (inaudible) back.

Sometimes I just go to beach and sit down there. I had to unload my (inaudible).

I do have an opening for you.

UNIDENTIFIED FEMALE: Oh, really.

CHINN: So you can move in here today. American`s are very kind to me, very kind. When I come to this country I had 20 dollar. Every penny I

make I donate it to this charity. I`ve even gone back to (inaudible) people. I had more than what I need.

(END VIDEO CLIP)

CARL AZUZ: Yesterday we reported on the return of three space travelers to planet Earth. Today, we`re bringing you a glimpse of a music video that

one of them recorded while he was on the International Space Station. Though the orbiter itself covers about the same space as a football field,

the areas where people can actually go and record videos like this are more limited. But while there may not be a lot of space to film, the view is

incredible. I think that tops "Upside Down and Inside Out" by O.K. Go. The video`s a "satellite" hearted take on a space experiment and sure to

ascend to the top of the charts. Is it in the Top 10? No. It`s in orbit. It rocketed up there and launched the astronaut into stardom. I`m Carl

Azuz and "NASA" all the time we have on CNN 10.

END